Manufacturing Industry
Hayes Lemmerz completes sale of Cadillac foundry.(METALCASTING NEWS)(Hayes Lemmerz International Inc.)(Cadillac Castings)(Brief Article)
Foundry Management & Technology, December, 2005
Hayes Lemmerz International Inc. reports that it has sold its ductile iron foundry in Cadillac, MI, to a new company formed to acquire and operate the facility. Cadillac Castings, the name of the new operation, is backed by private investors. No purchase price was reported.
Hayes Lemmerz produces automotive and commercial highway wheels, brakes, powertrain, suspension, structural and other lightweight components. It announced in September it was studying its options for sale or closure of the wholly-owned subsidiary.
In November, Cadillac Castings gained approval from the Michigan Economic Development Commission for a Single Business Tax credit worth $2.7 million. The state legislature also amended Michigan Economic Growth Authority regulations to...
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